Recent Updates — KMX

CarMax appointed Darren W. Woodell as Vice President, Controller and Chief Accounting Officer, effective November 11, 2026. He assumes the role from Enrique N. Mayor-Mora, who remains Executive Vice President and Chief Financial Officer. Woodell brings experience from Genworth Financial, Lumber Liquidators, and Ernst & Young. His compensation includes a $385,000 base salary, a $175,000 bonus, a $100,000 sign-on bonus, and restricted stock units valued at $330,000. CarMax operates as the largest used-vehicle retailer in the United States.

CarMax reported second quarter fiscal 2027 results with total net revenues rising 19.5% to $7.9 billion and combined unit sales increasing 14.7% to 387,735. Net earnings per diluted share grew 81.3% to $1.16 from $0.64 in the prior year period. The company announced plans to resume share repurchases at a modest level in the third fiscal quarter, with $1.31 billion remaining available under its authorization. CarMax operates as the largest retailer of used automobiles in the United States.

CarMax announced that Executive Vice President and Chief Innovation and People Officer Diane Cafritz will depart the company effective December 31, 2026. Her severance package was amended to replace a target bonus calculation with her actual fiscal year 2027 annual bonus under the Company’s Annual Performance-Based Bonus Plan. Additionally, Ms. Cafritz entered into a six-month consulting agreement commencing January 1, 2027, receiving $360,500 in aggregate compensation for services rendered through June 30, 2027. The departure extends non-solicitation and non-competition covenants to expire two and a half years from her exit date. CarMax operates as the largest used vehicle retailer in the United States.

CarMax, Inc. and its subsidiary, CarMax Auto Superstores, Inc., entered into a $500,000,000 term loan credit agreement with MUFG Bank, Ltd. on June 15, 2026. The facility matures on June 15, 2029, and proceeds were utilized to pay down borrowings under a $2.0 billion unsecured revolving credit facility and for general corporate purposes. The agreement includes a consolidated net leverage ratio covenant of 3.75 to 1.00 and a consolidated interest and rent coverage ratio of at least 2.00 to 1.00. Interest rates are based on Daily SOFR or a Base Rate plus an applicable margin. CarMax, Inc. is an automotive retailer.

CarMax, Inc. announced that Jill Livesay, Vice President, Controller and Principal Accounting Officer, will retire effective July 31, 2026. Enrique N. Mayor-Mora, Executive Vice President and CFO, will assume the role of principal accounting officer upon her retirement.